1) Is it allowed to re-invest the capital gain from one property sale towards fresh purchase of land and building at the same time to avoid CGT?
2) Can capital gain be used to do interior work in the re-invested house and claim exemption?
thanks.
1) Is it allowed to re-invest the capital gain from one property sale towards fresh purchase of land and building at the same time to avoid CGT?
2) Can capital gain be used to do interior work in the re-invested house and claim exemption?
thanks.
1. yes
2. no
| Originally posted by : LOVE ARORA | ||
 |
1. yes 2. no |
 |
agree
1)Yes ,Exemption can be claimed U/S 54 if a Residential house is purchased within 1 yr before or 2 years after the date of transfer and a residentail house is constructed within 3 years from the date of transfer
2)NO exemption can be claimed
yes i agree with parshu
1.yes
2. no
Agree with parshu
Karia Overseas
Ahmedabad
CA
View Details
SMJ global advisors pvt ltd
New Delhi
B.Com
View Details
CAclubindia
